World’s Leading High-rise Marketplace
- ByStartupStory | February 2, 2024
Conversational and Gen AI platform Kore.ai has successfully secured $150 million in funding, led by FTV Capital, alongside contributions from NVIDIA and existing investors including Vistara Growth, Sweetwater PE, NextEquity, Nicola, and Beedie. The fresh capital injection will be utilized by Kore.ai to expand its market presence and advance its AI technology. Raj Koneru, the Founder and CEO of Kore.ai, expressed their position in the AI landscape, stating, “We have been working with advanced AI for a decade now—our deep technology expertise and market understanding put us in a prime position to take advantage of the momentum and to do AI right in order to meet growing customer needs.”
Kore.ai’s no-code platform plays a pivotal role in enabling end-to-end customer and employee experiences, encompassing automated, human-assisted interactions, and generative AI applications. Raj Koneru emphasized the startup’s commitment to providing businesses with freedom of choice and effective AI implementation, stating, “Sitting above the infrastructure layer and LLM chaos, our approach grants businesses freedom of choice with built-in guardrails for effective AI implementation.”
As per Gartner’s projections, the conversational AI market is anticipated to reach $377 billion in revenue by 2032, up from $66 billion in 2023. Kore.ai’s conversational virtual assistants and purpose-built workflows cater to various sectors such as healthcare, banking, retail, IT, and HR. Kapil Venkatachalam, Partner at FTV Capital, expressed their confidence in Kore.ai, stating, “Kore.ai clearly stood out with its proven enterprise-grade platform capabilities, visionary leadership, strong R&D focus, established global customer base and a clear path to profitability.”
Operating from Orlando, Kore.ai maintains a network of offices across India, the UK, the Middle East, Japan, South Korea, and Europe. The platform serves over 400 Fortune 2000 companies globally, including notable customers like PNC Bank, AT&T, Cigna, Coca-Cola, Airbus, and Roche. Currently automating 450 million interactions daily, Kore.ai is actively expanding in emerging markets such as Asia Pacific, Europe, LatAm, and the Middle East.
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